A wider market in a day after the Crypto community accommodated a solid bounce back rally with the best Altcoin leading the race. In a simple definition, we expect the bull ship to occur when the encryption investor is purchasing, and the price of Altcoin will increase.
For example, the fastest layer -1 chain of Solana’s default SOL token caused enormous losses within 24 hours and decreased 20% to trade below two major support. This happened yesterday after knocking on the new seven -day highs yesterday following the news of Solana (SOL) in the US Federal Reserve Bank.
Solana’s Price Crunch: Bulk Sell of Blame?
As if it’s not enough, a large -scale money tracker has found numerous encryption organs that start selling millions of solar tokens. First of all, the account of the FTX & ALAMEDA ESTATE is constantly leaving Altcoin, which usually affects the short -term price movement of Solana.
The fall of FTX Exchange’s real estate deposits 24.79 SOL tokens or $ 3.38m to Binance. Such a warm -claw movement usually gives a hint to a large player who is expecting a larger market dump. The FTX & ALAMEDA -related account has sold $ 431 million to deal with bankruptcy and repay the victims.
The selling outlook looks dark for the price of Solana (SOL) in the other case of Crypto Whale Tracker LookonChain. Veteran encryption investors removed 79,530 SOL tokens a few hours ago. In the past, this large encryption investor gained more than $ 27 million by staying the Solana (SOL) tokens on November 8, 2023.
Solana faces frustration despite the inclusion of preliminary inclusion.
The price of SOLANA (SOL), which currently lives right above $ 135, is led by bears. In the daily chart, if it is judged as a negative Chaikin Money Flow (CMF) index, the weakness is mainly in the short term.
Solana’s (SOL) prices may have difficulty at $ 135 after losing two major support areas of $ 145 and $ 155, while BBP (Bull Bear Power) represents -32.35 persuasive bear control.
However, if the Solana (SOL) price ends more than $ 125, the weak paper can turn in another direction. This price range acts as a preliminary lower limit support level, and it is already useful on February 28, 2025, so that Altcoin can be easily popped up to $ 178.
on the other way
- Today’s 21% Solana CRASH has lost $ 49 million in a long SOL position in the derivative market, and has no doubt that cryptocurrency transactions have a fast price rollback.
- Solana’s weak price trajectory is associated with the decision that the Donald Trump administration decided to withdraw Ukrainian aid, which can cause uncertainty about one of the altcoins widely used in war donations.
Why this is important
The designated scientific tension and the overall market sentiment tend to change market dynamics significantly because most large encryption currencies are just before unprecedented legislation.
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